Our editors also focused on credit cards with rewards, as we believe that leisure-travel expenses should be affordable without debt. And if you don’t carry a balance from month to month, interest rates aren’t a concern. Plus, the right rewards card can save you 2%+ on all international purchases, on top of the 1% to 3% that you’ll save on foreign fees and the 6%+ saved by using a Visa or a Mastercard instead of exchanging hard currency.
This approach helped us narrow down the available options to the market’s elite offers in the most popular usage categories. Here are the best no foreign transaction fee credit cards:
2017's Best No Foreign Transaction Fee Credit Cards
|Best No-Foreign-Fee Card For...||Card Name||Foreign Transaction Fee||Editor's Rating|
|Initial Bonus||Chase Sapphire Preferred® Card||0%||4.5 Stars|
|Travel Rewards||Barclaycard Arrival Plus™ World Elite Mastercard®||0%||5 Stars|
|Cash Back||Capital One® Quicksilver® Cash Rewards Credit Card||0%||4.4 Stars|
|Students||BankAmericard Travel Rewards® for Students Credit Card||0%||5 Stars|
|Fair/Limited Credit||Capital One® QuicksilverOne® Cash Rewards Credit Card||0%||4.7 Stars|
|Bad Credit||Capital One® Secured Mastercard®||0%||5 Stars|
There are ultimately many reasons to get a credit card with no foreign fees before traveling abroad or making purchases through an internationally based merchant. Here are some of the most important:
5 Reasons To Get One of 2017's Best Credit Cards with No Foreign Transaction Fee
- Most credit cards charge foreign fees. More than 70% of cards have foreign fees, according to our database. So if you don’t seek out a no foreign fee card, chances are you won’t get one. And no one wants to pay an extra 2% or 3% if they don’t have to.
- Foreign fees erode rewards. The average foreign fee is just over 2% of the amount you spend, according to our latest Credit Card Landscape Report, but many cards charge 3%. The average cash back credit card, on the other hand, gives you just over 1% back.
- Credit cards have the best exchange rates. Any Visa or Mastercard credit card will help you save time and money – up to 11% – relative to converting hard currency at a local bank or an airport kiosk. But a foreign fee would limit your savings.
- Pickpockets won’t be as scary. If someone robs you of cash while you’re in a foreign country, there’s not much you can do about it. That money is gone. But if someone steals your credit card, you can request an overnight replacement, and you won’t be held liable for any unauthorized charges.
- You won’t have to sacrifice. Getting a credit card with no foreign transaction fee does not mean giving up hopes of earning rewards or avoiding interest. Many of the market’s best credit cards do not charge foreign fees, so you can still find a great deal for your particular needs.